Nightclub Insurer Can't Put Off Rehabilitation Pending Appeal

Law360, Wilmington (January 16, 2014, 10:02 PM EST) -- A Delaware Chancery judge on Thursday denied a bid by the founder of nightclub insurer Indemnity Insurance Corp. RRG to stay the company's rehabilitation pending an appeal, ruling he would not be irreparably harmed by the proceeding and that the company should not remain “in limbo.”

Vice Chancellor J. Travis Laster ruled that IIC founder Jeffrey B. Cohen had never provided any evidence that another of his companies, RB Entertainment Ventures LLC, had a 99 percent stake in the insurer and would thus lose that equity...
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